Financial News: French Consumer Sentiment Remains Unchanged

French Consumer Sentiment Remains Unchanged

(RTTNews) - French consumer confidence remained stable in August, monthly survey results from the statistical office INSEE showed Tuesday.

The consumer confidence index posted 86 in August, the same as in July. The score continued to remain below its long-term average. The score was expected to rise to 87.

Consumers' assessment about their personal financial situation was almost stable. The balance of opinion related to their past financial situation dropped one point to -27 and the one related to their future financial situation gained one point to -12.

The proportion of households believing it is a good time to make major purchases deteriorated. The index lost two points to hit -39.

Further, the proportion of households believing it is a good idea to save increased again. The corresponding index climbed two points to 47, a new historic maximum.

Assessment about the ability to save, current and future, increased again, with the index rising to 20 and 18, respectively. The associated balances each gained one point, following a three-point rise in July.

Savings climate increased again, by one point.

Households' opinion on future standard of living in France decreased slightly as the index lost two points to -62 and the one related to past standard of living lost one point to -80.

The survey showed that consumers' fears about unemployment rebounded. The balance gained three points to 58.

The proportion of households who consider that prices will accelerate over the next twelve months also increased sharply. The associated balance of opinion surged nineteen points to -14, after losing as many in July.

The proportion of households who consider that prices climbed over the past twelve months moved up eight points to 25.

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